TORONTO, June 20 /CNW/ - SilverBirch Inc. (TSX-V: SVB) announced today
that 100% of the more than twenty million warrants issued in the December 2006
unit financing were exercised as at the June 18th expiry date generating total
proceeds of $2,414,247.
Total shares outstanding are now 87,674,436, and 4,070,000 warrants
remain outstanding. Total warrants as a percentage of the float have been
reduced from almost 20% to less than 5%.
"This additional capital allows us to continue the momentum of our
aggressive growth strategy to achieve critical mass in both the mobile and
video game spaces." said SilverBirch CEO, Derek van der Plaat.
About SilverBirch Inc.
Toronto-based SilverBirch Inc. is a fully integrated developer, publisher
and distributor of high quality interactive media content and, through its
Jambo Mobile division, provides mobile marketing and direct-to-consumer mobile
content. In addition, the company is a multi-platform video game developer and
operates an MMORPG (massive multiplayer online role-playing game) game called
Metin 2 (see www.metin2.us). For more information, please visit
www.silverbirchstudios.com and www.jambomobile.com.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of the content of this news release.
Forward-Looking Statements - Certain information set forth in this news
release, including management's assessment of future plans, contain
forward-looking statements that involve substantial known and unknown risks
and uncertainties. These forward-looking statements are subject to numerous
risks and uncertainties, certain of which are beyond management's control,
including the impact of general economic conditions, industry conditions, and
currency fluctuations. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements.
For further information:
For further information: Derek van der Plaat, Chief Executive Officer,
SilverBirch Inc., Tel: (416) 621-6711 Ext 34, Email: firstname.lastname@example.org;
Paul Haber, SVP & CFO, SilverBirch Inc., Tel: (416) 621-6711 Ext 35,